MINNETONKA, MINN. — Opus Northwest has received final approvals from the Minnetonka City Council for the construction of Crest Ridge Corporate Center, a 230,000-square-foot, Class A office development located at the interchange of Interstate 394 and County Road 73 in Minnetonka. The first phase of the project will consist of the three-story, 110,000-square-foot Syngenta Seeds headquarters, which will be leased by Switzerland-based Syngenta. The building, which is applying for LEED-Gold certification, will consolidate Syngenta employees from multiple sites in the Twin Cities area. Opus is overseeing the design and construction of the building, which is set to break ground this spring and be complete in mid-2009. Phase II of Crest Ridge Corporate Center will include a three-story, 120,000-square-foot office building, which will also seek LEED certification.
O’FALLON, MO. — Chicago-based First Industrial Realty Trust has acquired a 115,200-square-foot industrial building located at 601 Cannonball Lane in the St. Louis suburb of O’Fallon. First Industrial plans to reposition the building, which comprises light industrial and distribution space. The property was acquired from Cenveo Corp., which was represented by Rob Pipkin and Eric Beichler of Mohr Partners, and Geoffrey Orf and Patrick Reilly of Gateway Commercial/Cushman & Wakefield. First Industrial was represented in-house by Michael Vallenari, John Wright and Scott McGregor. The acquisition price was not disclosed.
CHICAGO — The Chicago office of NorthMarq Capital has arranged $15.25 million in first-mortgage financing for Interpark Corporate Center, a 164,447-square-foot office building located in Chicago. Financing was based on a 7-year term with a 30-year amortization. Ian Russ of NorthMarq arranged the loan, which was provided by Aviva Capital Management, on behalf of JCF Real Estate.
ELMHURST AND DES PLAINES, ILL. — Oak Brook, Ill.-based Krusinski Construction Co. has completed two freight-forwarding industrial facilities for International Airport Centers totaling more than $11 million. The first project is a 248,748-square-foot speculative facility situated on 23.79 acres at 1000 County Line Rd. in Elmhurst. The building features 54 exterior docks, two drive-in doors and parking for 242 cars. Julius Kwasek of Inverness, Ill.-based Kwasek Architects provided design services; James Estus of Colliers Bennett & Kahnweiler will act as leasing agent for the property. The second project is a 48,125-square-foot speculative warehouse located at 300 E. Touhy Ave. in Des Plaines. The facility features 24-foot clear ceiling heights, room for future office space, 27 docks, two drive-in doors and 66 parking spaces. Eric Johnson of Ware Malcomb served as project architect, and Ron Behm and Matthew Stauber of Colliers Bennett & Kahnweiler are the leasing agents.
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